KULR Exits Bitcoin with $58.6 Million Sale
KULR Technology Group has completed its exit from Bitcoin after selling its remaining 764 BTC for $58.6 million in gross proceeds. The battery technology company sold the coins between August 20 and September 11, with a weighted average price of about $76,633 per Bitcoin.
The sale marks the end of KULR's treasury strategy, which began unwinding in August. The company had already cut its Bitcoin holdings sharply as it repaid debt, ended its mining operation, and redirected capital toward its core energy business.
KULR sold the Bitcoin through open-market transactions to unrelated buyers as part of its treasury management operations. The filing did not disclose the coins' cost basis or whether the final disposal produced a realized gain or loss.